GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed at 1,254.21 posting profits of 0.50%, in a turnover of €97. 65mn.
According to press reports, Greece is very close to issue a new 3-years bond of €2.5-3bn by 10-July-2014.
The Prime Minister Mr Antonis Samaras said that Greece will avoid Argentina’s fate of staying mired in economic troubles, adding that things are now improving.
- PPC: The Environment and Energy Minister Mr. Yiannis Maniatis submitted a series of amendments to a controversial bill for the part-privatization of the PPC, setting a minimum price and guaranteeing workers’ jobs for five years, ahead of a vote on the draft legislation that is expected to take place in Parliament next Wednesday. The minimum price of the PPC subsidiary, which would account for about 30% of the utility’s production, will be €1.5bn.
- Lamda Development: The private equity group Blackstone acquired a 10% stake in Lamda for €20.2mn. Note that Lamda was picked by Greece’s privatization agency in March to develop a prime seaside property at the former Athens airport Hellenikon, backed by China’s Fosun and Abu Dhabi-based property firm Al Maabar.
- BoC: The bank announced that its BoD will convene today to discuss capital structure issues, including the possibility of a capital increase. The capital increase could reach €1.0bn.
FTSE 25 September future:
- Support levels: 400-395-390. Resistance levels: 414-420-426.
- Support levels: 1,230-1,220-1,202. Resistance levels: 1,265-1,285-1,300.
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